One in five of the people we see still have a mortgage on their home. Many of them also have money in the bank, super or some other investments. For part pensioners this can sometimes be costly. This is because most part pensioners, and those that aren’t eligible for the age pension, are impacted by the assets test. The way this works is that for every extra $1000 you have in assets (that exceed the minimum assets test threshold) your age pension declines by $3 per fortnight or $78 per year. A couple with $100,000 less in assets could get $7,800 per year more in Age Pension – a big difference!
So, if you h
